The other comments here mentioning cheap as a flag word are somewhat accurate but not entirely. Its possible to rank a site using the word cheap assuming you're supporting it correctly with related content about a specific product and proper explanation as to what makes it cheap.
Honestly, I am very sorry that you lost all your traffic and your revenue but this seems like a VERY fixable problem considering your backlinks. Take your best performing posts, and dramatically increase the word count, add more photos, add overviews of each product instead of just a single line or two pulled from reviews.
Happy to help with additional pointers if you want to shoot me a PM.